George Fotion's Market Report
Redondo Beach, CA 90277
Single-Family Homes
Call Realty | www.BestPalosVerdesHomes.com | 310.346.6467
Redondo Beach, CA 90277
Wed Oct 04 2023
This week the median list price for Redondo Beach, CA 90277 is $2,899,500 with the market action index hovering around 57. This is an increase over last month's market action index of 56. Inventory has decreased to 14.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Real-Time Market Profile
| Median List Price | $2,899,500 | |
| Median Price of New Listings | $2,599,500 | |
| Per Square Foot | $1,102 | |
| Average Days on Market | 45 | |
| Median Days on Market | 49 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 7% | |
| Inventory | 14 | |
| Median Rent | ||
| Market Action | 57 | |
| Strong Seller's Market | ||
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,985,000 | 3,500 | 4,500 - 6,500 sqft | 6 | 6 | 12 | 0 | 0 | 28 |
| $3,300,000 | 3,049 | 4,500 - 6,500 sqft | 4 | 4 | 26 | 1 | 1 | 56 |
| $2,550,000 | 2,876 | 6,500 - 8,000 sqft | 4 | 3 | 57 | 0 | 0 | 21 |
| $1,425,000 | 1,166 | 4,500 - 6,500 sqft | 3 | 2 | 94 | 1 | 3 | 63 |